Move Gives GE Lead Over Germany's Siemens in Takeover Battle

PARIS—Alstom SA said Wednesday its board unanimously endorsed General Electric Co.'s $17.1 billion cash bid for its energy assets, giving the U.S. company a lead over German rival Siemens AG in a politically charged takeover fight.

All board members found enough "strategic and industrial merits" in the GE offer to start a one-month review, the French company said in a statement.